The South African Reserve Bank (SARB) has unveiled an ambitious roadmap that seeks to usher in a cashless era, prioritizing financial inclusion and economic growth.

Through the partnership, the two entities will provide small businesses in South Africa, Nigeria, Kenya, and Egypt with an online platform, powered by SAVA’s Payment Transaction System, that includes digital bank accounts and accounting integration tools.

The newly established Secured Transactions Registry aims to facilitate the use of moveable assets as collateral for loans while ensuring financial stability and fostering economic growth in Sri Lanka.

This impactful collaboration will promote financial inclusion by addressing the specific needs of female customers in the banking sector through in-depth market research, a robust Customer Value Proposition, and strategic linkages with Sri Lankan women and women-owned Small and Medium Enterprises.

The National Treasury yesterday published the Financial Inclusion Policy Framework for South Africa, titled “An Inclusive Financial Sector for All” following the endorsement and approval of the policy framework by Cabinet on 8 August 2023.

This ZAR 60 billion (≈ USD 3.3 billion) investment is expected to contribute significantly to enhancing network resilience, further accelerating Vodacom’s deep rural coverage program to help bridge the digital divide and deepening financial inclusion.

The International Finance Corporation is supporting the Commercial Bank of Ceylon to launch a digital marketplace in Sri Lanka, which will help business owners connect with more customers locally and abroad.

The three-year project aims to eliminate barriers in access to finance for young entrepreneurs, create income generation opportunities and promote financial inclusion and growth.

The company aims to solve the problem of informal areas not having access to payments systems in the digital age.

The $5 million loan from EMF Microfinance Fund AGmvK will be used for on-lending to micro, small and medium enterprises.